Just out of curiosity...why is real estate so cheap?

[Wilson513]

Check this out.

INVESTMENT OPPORTUNITY IN CINCINNATI OHIO - eBay (item 160489064052 end time Nov-03-10 12:00:56 PDT)

[goyguy]

Would that be East Price Hill, St Lawrence Parish, the Incline District, or two or all of the above?

[Sarah Perry]

Originally Posted by goyguy

Would that be East Price Hill, St Lawrence Parish, the Incline District, or two or all of the above?

I like where it says "local pickup only."

[Wilson513]

Wherre is restorationconsultant on this? Its listed as Fairmont, but it looks like Price Hill. But the asking price was only $5000 and the bidding is stalled at $1100.

746 Terry St (http://www.comey.com/displaylist.asw?listnum=1213292&mls=cincy - broken link)

[sandasene]

Originally Posted by wilson1010

Wherre is restorationconsultant on this? Its listed as Fairmont, but it looks like Price Hill. But the asking price was only $5000 and the bidding is stalled at $1100.

746 Terry St (http://www.comey.com/displaylist.asw?listnum=1213292&mls=cincy - broken link)

Nope, it's listed as Price Hill:
746 Terry St

Right off W 8th:
Star One Realtors - MapMuse.com Internet Mapping Services

And it's the house where Nat Comisar, Sr. of The Maisonette restaurant, grew up when he emmigrated from Poland.

[restorationconsultant]

Sorry folks been really busy working on preservation issue. Some preservationists friend of mine from St Louis are trying to buy a house on Dayton St, plan on spending 300-350 K on restoration but are dealing with the city R&R (Roadblocks and Redtape.) and its holding up their closing.

Real estate in Cincinnati is amazing, the OP just needs to understand that real historic preservation and advocacy are lagging behind other cities. And so are prices. By comparison Cincy is 10-15 years behind cities like Indianapolis and Louisville in restoration of their Historic Urban neighborhooods. That is changing and seems to be moving prety rapidly as many people are discovering Cincinnati for its architecture. I have dozens of friends who have move to Cincy from other parts of the country over the last two years. Most are self employed and can live anywhere and are choosing Cincinnati. More are on the way and really that is what this city needs is more preservation minded people to move in and help educate some locals who do not appreciate the riches they have here.

Find yourself a good realtor who knows old houses and what is going on. What most people here consider to be "bad neighborhoods' here are probably better than some parts of Columbia, as I recall they has some real "iffy places".

Take time to really look around, I think the vibe I get is you are looking for something kinda "turn key" that maybe just needs updating as opposed to a blowout top to bottom project.

You will probably find Covedale, Westwood and Walnut Hills to your liking and I'd check out Norwood too. The city offers a tax abatement program for restoration that is a 10 year/15 if you are LEED certified up to 275K.

All things considered I think we are seeing about the cheapest prices right now but it looks like that will trend up over the next 5-10 years. As Cincinnati turns around I think prices will closely mirror other cities. It sounds like you plan on staying for awhile so you should be OK as the "top of the market" prices from 2006-7 have moderated somewhat due to the high foreclosure rates in Urban neighborhoods.